Deloitte, one of the “Big Four” accounting companies is launching a blockchain lab to research and develop financial blockchain-based solutions, wrote cryptocoinnews.com.

The lab will be located in New York`s Wall Street district, with over 20 developers and designers to work there. The aim will be to create “ready-to-integrate” solutions for Deloitte`s clients in the financial sector, reported cryptocoinnews.com.

However, it is not Deloitte`s first blockchain lab. In May 2016, Deloitte Ireland opened a blockchain lab in collaboration with the country`s central bank, the Bank of Ireland.

Speaking to cryptocoinnews.com, Eric Piscini, innovation principal at Deloitte has commented on the news: “With the technology not having reached widespread adoption, 2017 could be the make-or-break year for blockchain technology”.

“Financial institutions have the power and ability to move blockchain to the next level. To get there, companies will need to move away from churning our proofs of concept and begin producing and implementing solutions. That’s a big part of the goal with Deloitte’s blockchain lab.”, he explained further.

The accounting company has initiated a number of blockchain projects, including a network of labs in New York and Dublin.

Another famous initiative of Deloitte is Rubix, a team of developers that is working on developing blockchain applications. The Rubix team has contributed to the installment of a bitcoin ATM at Deloitte`s Toronto offices in September 2016, according to cryptocoinnews.com.

Deloitte`s blockchain team has been said to have over 800 professionals that are spread over 20 countries. At the same time, the accounting firm continues to invest in blockchain- related initiatives, said the latest update in cryptocoinnews.com.